Sony To License 500 Movies To Starz

Under a deal announced on Monday, the Starz and Encore pay-TV movie channels will have the rights to air more than 500 movies from Sony Pictures' vast library. The films will also be available on Starz's video download service, Vongo, which charges subscribers a monthly fee of $9.95. While the licensing deal with the cable channels won't kick off until 2008, the deal with Vongo is set to begin next month and will include such recent hits as The Da Vinci Code and Talladega Nights: the Ballad of Ricky Bobby, the companies said in a statement. Terms of the deal were not disclosed; however, Daily Variety reported that it will net Sony $100 million.